From this day on my favorite method of making GIFs out of video file has become via python with MoviePy module. Description of module from module’s page reads:

MoviePy is a Python module for video editing, which can be used for basic operations (like cuts, concatenations, title insertions), video compositing (a.k.a. non-linear editing), video processing, or to create advanced effects. It can read and write the most common video formats, including GIF.

It’s creator wrote a nice post on how to make a GIFs which helped me to get started in what I was looking for.